QRED · Quasaredge Acquisition Corporation

QuasarEdge Acquisition Corporation, a Cayman Islands exempted company, successfully completed its initial public offering (IPO) on April 16, 2026. The offering consisted of 10,000,000 units priced at $10.00 per unit, generating gross proceeds of $100,000,000. Each unit comprises one ordinary share and one right to receive one-fourth of an ordinary share upon the consummation of an initial business combination. Polaris Advisory Partners, a division of Kingswood Capital Partners LLC, acted as the sole book-running manager. The underwriters have been granted a 45-day option to purchase up to an additional 1,500,000 units to cover over-allotments, which if exercised in full, would increase the total gross proceeds.

Concurrently with the IPO closing, the Company consummated a private placement with its sponsor, Aspira Capital Consulting LTD. The Sponsor purchased 285,000 private units at $10.00 per unit, generating $2,850,000 in gross proceeds. These private units are identical to the public units but are subject to transfer restrictions and registration rights. The issuance was made pursuant to the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933.

As of April 16, 2026, a total of $103,500,000 of the net proceeds from the IPO and the private placement were placed in a trust account established for the benefit of the Company's public shareholders, maintained by Continental Stock Transfer & Trust Company. This trust account structure is standard for blank check companies and ensures that funds are available for a future business combination or for redemption if a combination is not consummated.

In connection with the IPO, the Company appointed three new independent directors to its Board effective April 13, 2026: Wei (Victor) Zhang, Daniel M. McCabe, and Ping Zhang. The Board determined that each qualifies as an independent director under NYSE listing standards and SEC rules. Wei (Victor) Zhang was also designated as an "audit committee financial expert." Qi Gong continues to serve as the Company's Chairwoman, Chief Executive Officer, Chief Financial Officer, and a director. Additionally, on April 13, 2026, the Company adopted its Second Amended and Restated Memorandum and Articles of Association, replacing the previous governing documents to align with the requirements of being a publicly traded blank check company.